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The Queen's University of Belfast (Trusts) Act (Northern Ireland) 1952

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The Queen's University of Belfast (Trusts) Act (Northern Ireland) 1952 F1

1952 CHAPTER 22

An Act to make provision with respect to trust property held by or on behalf of, or for purposes connected with, the Queen's University of Belfast.

[9th December 1952]

F1functions transf. by SR 1999/481

1Schemes for administering the university trusts.N.I.

(1)The Queen's University of Belfast (in this Act called “the university”) may make a scheme providing for the following matters:—

(a)for the application of the scheme to such trusts as may be specified therein, being trusts which are administered by the university or which are administered by other trustees for purposes connected with the university and are included in the scheme with the consent of those trustees;

(b)for enabling all the property held by the university on any trust to which the scheme applies, with such exceptions as may be specified in the scheme, to be administered by the university as a single fund (hereafter referred to as “the Fund”);

(c)for enabling the trustees of any trust to which the scheme applies which is not administered by the university to transfer to the university all the property comprised in the trust, with such exceptions as may be specified in the scheme, and for its administration as part of the Fund;

(d)for enabling the Ministry of Finance to transfer to the university any property held by it on behalf of the university on any trust to which the scheme applies, and for the administration of that property as part of the Fund;

(e)for valuing the Fund and determining the shares of the various trusts therein;

(f)for distributing the income of the Fund in accordance with the said shares, and for enabling, in the case of any trust, advances of capital to be made out of the Fund, up to an amount not exceeding the share of that trust, for any purpose for which capital is authorised by the terms of the trust to be advanced;

(g)for authorising, in such circumstances as may be specified in the scheme, a part of the income for any year to be placed to a reserve account for the purpose of eliminating or reducing fluctuations of income;

(h)for conferring upon the university powers of investment with respect to property comprised in the Fund, including powers to invest in the purchase of land;

(i)for enabling the scheme to be extended to trusts administered by or for purposes connected with the university, being trusts created after the coming into operation of the scheme or excluded from the scheme for other reasons, unless the terms of the trust expressly provide to the contrary or (in the case of trusts not administered by the university) the consent of the trustees is withheld;

(j)for any incidental, consequential and supplementary matters for which the university considers it expedient to provide.

(2)The university may make different schemes under this section in relation to different classes of trusts.

2Submission, approval and operation of schemes.N.I.

(1)A scheme made under this Act shall not come into operation until it has been approved by the Governor of Northern Ireland by Order in Council.

(2)The Governor of Northern Ireland shall not be recommended to make an Order in Council under this section approving any scheme until a draft of that scheme has lain before each House of Parliament for the statutory period.

(3)If either House of Parliament within that period resolves that the scheme shall not be proceeded with, no further proceedings shall be taken in relation thereto, but without prejudice to the preparation of a new scheme.

(4)A scheme approved under this section shall have effect notwithstanding anything contained in or operative by virtue of any enactment, Royal Charter or other instrument whatsoever.

(5)A scheme approved under this section may be varied or revoked by a subsequent scheme made and approved in like manner and subject to the like conditions.

3Short title.N.I.

This Act may be cited as The Queen's University of Belfast (Trusts) Act (Northern Ireland), 1952.

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